Post hoc tests using the Bonferroni correction revealed that the statement was statistically significantly different in the case of statements "Odd price means getting change", "I associate an odd price with cheating" and other statements (P < 0.

Repeated measures ANOVA with the Greenhouse-Geisser correction determined that the mean of the statement "I associate an odd price with cheating" differed statistically significantly between product categories (F(1.

The respondents stated that they did not associate an odd price either with a discount, with lower quality, with getting change, or with cheating.

Two of the three electrical appliances, the hair dryer tested at the $20 level and the kettle tested at the $50 level, produced very similar demand curves, and for both estimated demand was greater than expected at the 95 cent odd price ending.

Perhaps odd prices create an illusion of cheapness, perhaps consumers have been conditioned to expect odd price endings, or perhaps there is some other explanation.

There is no general agreement on the definition of odd prices, and they are sometimes referred to as magic prices, charm prices, psychological prices, irrational prices, intuitive prices or rule-of-thumb prices (Boyd and Massy, 1972; Dalrymple and Thompson, 1969; Gabor, 1977; Kreul, 1982; Monroe, 1990; Rogers, 1990; Sturdivant, 1970).

A later study by Lambert (1975) suggested that lower price illusions were associated with odd prices under some circumstances, but Dodds and Monroe (1985) found no evidence of differences in consumers' perceptions of quality, value, or willingness to buy for products priced at odd and even prices.

Half of the catalogues featured even dollar prices, the other half showed the same products at slightly cheaper odd prices with 95 cent price endings.

In some instances odd prices appear to have increased demand for items, while in other instances demand was reduced, and for other products no effect was observed.

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